Strategy Evaluation

What are the three basic activities that comprise strategy evaluation?

• Examine, Compare, Implement

• Analyze, Execute, Monitor

• Examine, Compare, Take corrective actions

• Plan, Organize, Control

Why is strategy evaluation more difficult today?

• All of the above

• Social media, Rapid change

• Global competitors, Shorter planning cycles

• Shorter product life cycles, Rapid technological advancements

What is the purpose of the balanced scorecard?

• To measure customer satisfaction only

• To evaluate financial performance only

• To balance financial measures with nonfinancial ones

• To assess employee performance only

What is the role of a board of directors in an organization?

• Marketing and sales

• Financial auditing

• Oversight and guidance over management

• Operational management

What are the four challenges facing strategists?

• Art or science, Contingency planning, Auditing, Governance

• Visible or hidden strategies, Contingency planning, Auditing, Governance

• Art or science, Visible or hidden strategies, Contingency planning, Auditing

• Art or science, Visible or hidden strategies, Contingency planning, Auditing

What is the purpose of contingency planning?

• To create alternative plans for different scenarios

• To assess employee performance

• To evaluate financial performance

• To measure customer satisfaction

What is the definition of auditing in the context of strategic management?

• Evaluating evidence regarding economic actions and events

• Financial reporting

• Product development

• Market analysis

What is the main guideline for effective strategic planning?

• Keep the process routine and predictable

• Use arcane planning language

• Eliminate vague planning jargon

• Involve managers from specific areas only

What is the purpose of the comprehensive, integrative strategic-management model?

• To evaluate financial performance

• To measure customer satisfaction

• To guide the strategy-evaluation process

• To assess employee performance

What is the main purpose of the strategy-evaluation assessment matrix?

• To compare the firm's performance to industry averages

• To examine the underlying bases of a firm's strategy

• To take corrective actions to ensure performance conforms to plans

• To compare expected results with actual results